LAHORE: The Federal Board of Revenue’s Regional Tax Office-II has collected rupees 51.257 billion during current fiscal year up to April, 2015 showing a growth of 14 percent against the collections of last corresponding period.
Official sources informed here Saturday that an amount of rupees 45.025 billion was collected during the last fiscal year. The major revenue spinner of RTO was taxation on salary vis-a vis income tax. Revenue impact was almost stationary from this sector as tax rate of salary remained the same during the current financial year.
Further due to power sector outages especially “CNG” revenue collection has shown negative trend (collection from CNG sector during current fiscal year is Rs 71 million only as compared to last year tax collection of Rs.2,548 million).
During the ongoing financial year, top 10 revenue contributors were also transferred to Large Taxpayers Unit (LTU).
The sources told that although above factors were major obstacles in the way of achieving the assigned revenue target of Rs 51.123 billion up to April has been attained successfully because of the dedicated efforts of a team headed by Chief Commissioner income tax Rukhsana Yasmin.
Federal Board of Revenue has appreciated the significant growth in tax collection in RTO-II.
